- Ariana resources reported a 9% increase in gold inventory at the Dokwe Gold Project in Zimbabwe
- To fully develop the project, Ariana Resources is seeking US$80 million
- The company aims to produce up to 100,000 ounces of gold per year
Harare-UK-based miner Ariana Resources, a company that focuses on exploring and developing mineral resources, particularly gold , has reported a 9% increase in gold inventory at the Dokwe Gold Project in Zimbabwe.
The company's latest in-pit mineral resource estimate (MRE) reveals that measured and indicated resources now stand at 19.69 million tonnes, with an average grade of 1.54 grams per tonne, representing approximately 977,000 ounces of gold.
This update follows last month's announcement of additional gold reserves from drilling activities at the flagship project.
The project's total in-pit resource amounts to 44.90 million tonnes at a grade of 0.98 grams per tonne, equating to about 1.42 million ounces of gold.
To fully develop the project, Ariana Resources is seeking a capital investment of US$80 million.
"In-pit" refers to mineral resources located within the boundaries of an open-pit mining operation, indicating materials that can be economically extracted.
The Dokwe project is situated in the Tsholotsho District, 110 kilometres west and northwest of Bulawayo.
The Dokwe deposits, comprising Dokwe North and Central, were discovered by Rockover Holdings in 2002 through innovative soil geochemical exploration methods and were drill-tested for the first time in 2004.
In 2024, Ariana began exploring the project after Rockover acquired a 37.5% stake in the company.
According to exploration geologist and Ariana Managing director Kerim Sener, the project is currently at the feasibility stage and has the potential to develop into a 2 million tonnes per annum (2Mtpa) operation over a ten-year mine life.
The company aims to produce up to 100,000 ounces of gold per year.
As part of the Feasibility Study, Ariana Resources plans to stage its development pathway to minimize upfront capital expenditure, maximize early revenue, and maintain significant long-term optionality.
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